Los Angeles-based law firm Glancy Prongay & Murray LLP (GPM) has said that it is investigating SFX Entertainment on behalf of investors after allegations of fraud.

According to GPM, the company is being investigated due to possible violations of federal securities laws in connection with CEO Robert F.X. Sillerman's proposal to purchase the company’s outstanding stock.

GPM’s investigation focuses on whether the company made "materially false and misleading statements" in connection with the proposed acquisition of SFX by Sillerman.

GPM ...